[163 Pages Report] The satellite modem market is expected to grow from USD 282.4 Million in 2016 to USD 420.4 Million by 2023, at a CAGR of 6.0% between 2017 and 2023. The base year considered for the study is 2016, and the forecast period is between 2017 and 2023. The major factors driving the growth of the market include continuous innovation by satellite modem manufacturers to ensure the growth of the market, rising need for enriched high-speed data communication, and growing demand for satellite communication from various verticals.

The report aims at estimating the market size and future growth potential of the satellite modem market based on channel type, data rate, application, end user, and region. The report analyzes the structure of the market by identifying various segments of the market. It aims at identifying the major market trends and factors driving or restraining the growth of the satellite modem market and its various submarkets. Moreover, this report analyzes the value chain of the satellite modem ecosystem. Furthermore, the report analyzes opportunities in the market for stakeholders by identifying the high-growth segments of the market, strategically profiles the key market players, and comprehensively analyzes their market size and core competencies in each segment.

The research methodology used to estimate and forecast the satellite modem market begins with obtaining data on key vendor revenues through secondary research. Some of the secondary sources referred to for this research include International Telecommunications Satellite Organization (US), International Mobile Satellite Organization (IMSO) (UK), and The Satellite Industry Association (SIA) (US). The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure has been employed to arrive at the overall size of the market from the revenues of the key players. After arriving at the overall market size, the total market has been split into several segments, which have then been verified through primary research by conducting extensive interviews with key people such as CEOs, VPs, directors, and executives. The market breakdown and data triangulation procedure have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments.

The breakdown of primary participants has been depicted in the following figure:

In this report, the satellite modem market has been segmented on the basis of channel type, data rate, application, end user, and region. To provide a holistic picture, the current market demand and forecasts have also been included in the report. The research report segments the satellite modem market as follows:

By Channel Type:

Single Channel Per Carrier (SCPC) Modems

Multiple Channel Per Carrier (MCPC) Modems

By Data Rate:

High-Speed Data Rate Modems

Mid-Range Data Rate Modems

Entry-Level Data Rate Modems

By Application:

Mobile & Backhaul

IP Trunking

Offshore Communication

Tracking & Monitoring

Others

By End User:

Energy & Utilities

Mining

Telecommunication

Marine

Military & Defense

Transportation & Logistics

Oil & Gas

Other

By Region:

North America

Asia Pacific (APAC)

Europe

Rest of the World (RoW)

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the companys specific needs. The following customization options are available for the report:

Company information: Detailed analysis and profiling of additional five market players

The satellite modem market is expected to grow from USD 296.4 Million in 2017 to USD 420.4 Million by 2023, at a CAGR of 6.0% between 2017 and 2023. The major factors driving the growth of the satellite modem market include continuous innovation by satellite modem manufacturers to ensure the growth of the market, rising need for enriched high-speed data communication, and growing demand for satellite communication from various verticals.

In this report, the satellite modem market is segmented on the basis of channel type, data rate, application, end user, and geography. Based on channel type, the MCPC modem is expected to drive the market in terms of market share as well as growth rate. This is because MCPC offers unparalleled channel efficiency, which is the core requirement of high-data-traffic industries such as mobile communication, and internet & broadband services. Therefore, the adoption rate of MCPC modem is expected to grow in above industries.

High-speed data rate modem is expected to hold the largest market share between 2017 and 2023. High-speed data rate satellite modems are widely deployed to address the growing need for high-speed communication in applications such as mobile & backhaul and offshore communication, among others, which would help the satellite modem market to grow in terms of market share. The tracking and monitoring application is estimated to hold the largest market share because tracking and monitoring play a crucial role in industries such as transportation & logistics, marine, and military & defense to manage and track critical information such as real-time location, fuel consumption, and speed of the vehicles. For this, basic satellite infrastructure is required, wherein satellite modems are critical for transmitting and receiving data between the head office and the vehicle.

In terms of end users, the satellite modem market for military & defense is expected to grow at the highest rate during the forecast period. In the military & defense industry, reliable, secure, and uninterrupted communication is crucial irrespective of the location and weather condition. For this, satellite connectivity with the help of modems is the ideal solution. Furthermore, satellite modems also help in providing secure communication by following the encryption technology, which would make modem perfectly suitable for military & defense purposes.

The growth of the satellite modem market in the North America is likely to be fueled by the growing demand for satellite modems from major industries such as oil & gas, marine, and military & defense, where voice, video, data communication is critical for efficient decision-making. The US is at the forefront of adopting and installing the satellite communication network for all these industries. The satellite modem market in APAC is likely to grow at a high rate between 2017 and 2023. The increasing telecom connectivity within the region drives the demand for mobile and backhaul, and satellite-based backhaul. Also, with the growing Long-Term Evolution (LTE) technology in Asian countries and the growth of broadband services in rural areas, there would be a strong demand for satellite services in the region not only for coverage but also for acquiring new customers. Thus, the growth of satellite-based backhauling and 4G rollout offers a major opportunity for the satellite modem market in APAC.

The major challenges for the companies in the market include meeting the increasing demand for high bandwidth application.